Bond and Insurance. Bond and insurance amounts shall be determined at the final GMP based on the actual Pre-Construction Costs plus the Construction Costs as defined above.
Bond and Insurance. The Foundation shall ensure that officers and staff members are bonded in an amount of not less than $1,000,000. The premiums payable on such bonds shall be payable from the funds of the Foundation. Further, the Foundation shall obtain and maintain general liability and directors’ and officers’ liability insurance in a reasonable and appropriate amount as determined by the Foundation Board. The Foundation shall annually provide the City’s Parks and Recreation Department documentation of its compliance with this Section.
Bond and Insurance. The Servicer shall maintain with a responsible company, at its own expense, a blanket fidelity bond in a minimum amount of $1,000,000 and an errors and omissions insurance policy with coverage in an amount deemed reasonable by the Servicer, with coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Loans ("Servicer Employees"). Any such fidelity bond and errors and omissions insurance shall protect and insure the Trust Estate and the Trustee, as Trustee for the Noteholders, its officers, employees and agents against losses, including losses resulting from forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. No provision of this Section 2.4 requiring such
Bond and Insurance. Lessee shall maintain at all times a bond with a corporate surety company authorized to transact business in the State of Oregon as surety thereon in the penal sum of Ten Thousand Dollars ($10,000) payable to the State of Oregon, conditioned upon compliance with all the terms of the lease and on indemnification for damages to persons or property as a result of lease operations. The Lessee agrees to maintain insurance as outlined on the attached Exhibit "B".
Bond and Insurance
